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What constitutes an acceptable topic for the project?
Project topics should be subjects where actuarial analysis may be used to solve problems. The project may offer candidates an opportunity to apply actuarial reasoning and knowledge to either traditional or nontraditional areas of practice. Project topics should be 0selected in light of the anticipated time commitment and opportunity to complete and demonstrate the appropriate project elements (that is, identification of the problem or issue, research, data collection, data analysis, and communication of results). The project is expected to involve between 60 and 100 hours of active work time and should be consistent with the educational objectives delineated in the PD plan. Candidates might consider whether other actuaries of various experience levels in their organization and area of practice would find value in the results of their project. If a project would not offer other actuaries an opportunity for learning, the topic for that project may not be appropriate. See also: Sample PD Project.
- How do EA exams fit in with the PD requirement?
If a candidate has not already received SOA credit for the EA examinations (e.g. EA exam credits used in the conversion process), an EA designation satisfies 25 PD units, and meets the requirement for SOA-approved units. See also: PD Values for Examination Validated Options
- Can an employer-sponsored program be part of my PD plan?
Yes. A an employer-sponsored program may be included as a non- approved element in a candidate’s PD program, if the candidate’s advisor finds the program to be appropriate to the candidate’s development and sufficiently rigorous. As with all non-approved plan elements, the candidate is required to provide a written summary of the benefits obtained through the program content, as well as a statement of now the program helped the candidate attain one or more of the educational objectives of the plan.
Employer-sponsored programs may also be included in a candidate’s PD program as SOA-approved elements, if the employer sponsoring the program has applied to and received approval from the SOA. Employers should refer to Information on Applying for SOA-Approved PD Credit on this web site.
- Can I do three smaller projects of 5 credits each instead of one larger project?
No. A project may consist of smaller sub-components, but each sub-component must be related to the overall project. Credits for the project will be assigned on an all-or-nothing basis.
- Can work I do as part of a larger team be used for the project?
Project work done as part of a larger team can qualify as appropriate for a Professional Development Project, but the candidate’s involvement must be significant and each candidate must have a substantial, distinguishable component of the project for which he/she is primarily responsible. The advisor will require the candidate to report independently his/her portion of the project process as well as the entire project process and outcome in the project report. See also: Use of Team Projects and Client Work.